Teacher Retirement System of Texas Buys Shares of 17,199 RBC Bearings Incorporated (NYSE:RBC)

Teacher Retirement System of Texas purchased a new stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,199 shares of the industrial products company's stock, valued at approximately $5,534,000. Teacher Retirement System of Texas owned 0.05% of RBC Bearings at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NBC Securities Inc. acquired a new stake in shares of RBC Bearings in the first quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in RBC Bearings by 109.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 113 shares of the industrial products company's stock worth $36,000 after acquiring an additional 59 shares during the period. Golden State Wealth Management LLC lifted its holdings in RBC Bearings by 107.1% during the first quarter. Golden State Wealth Management LLC now owns 263 shares of the industrial products company's stock worth $85,000 after acquiring an additional 136 shares during the period. UMB Bank n.a. increased its position in RBC Bearings by 80.8% in the first quarter. UMB Bank n.a. now owns 311 shares of the industrial products company's stock worth $100,000 after buying an additional 139 shares during the last quarter. Finally, Quarry LP increased its position in RBC Bearings by 30.9% in the fourth quarter. Quarry LP now owns 390 shares of the industrial products company's stock worth $117,000 after buying an additional 92 shares during the last quarter.

Insiders Place Their Bets

In other news, COO Daniel A. Bergeron sold 31,282 shares of RBC Bearings stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $380.28, for a total value of $11,895,918.96. Following the sale, the chief operating officer directly owned 111,134 shares of the company's stock, valued at approximately $42,262,037.52. The trade was a 21.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Hartnett sold 9,000 shares of RBC Bearings stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $371.37, for a total value of $3,342,330.00. Following the completion of the sale, the chief executive officer directly owned 302,853 shares in the company, valued at $112,470,518.61. This trade represents a 2.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,973 shares of company stock valued at $29,186,872 in the last ninety days. Insiders own 2.60% of the company's stock.

RBC Bearings Stock Performance

Shares of RBC stock traded down $4.99 on Tuesday, reaching $381.99. The stock had a trading volume of 171,906 shares, compared to its average volume of 161,089. The stock has a market cap of $12.00 billion, a P/E ratio of 49.80, a price-to-earnings-growth ratio of 3.97 and a beta of 1.65. RBC Bearings Incorporated has a 1 year low of $260.53 and a 1 year high of $393.51. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.18 and a current ratio of 3.26. The company has a 50 day simple moving average of $368.06 and a 200 day simple moving average of $343.56.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its earnings results on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, topping analysts' consensus estimates of $2.70 by $0.13. The company had revenue of $437.70 million for the quarter, compared to analysts' expectations of $440.26 million. RBC Bearings had a return on equity of 10.08% and a net margin of 15.05%. RBC Bearings's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $2.47 EPS. Equities research analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current year.

Wall Street Analyst Weigh In

RBC has been the subject of a number of recent research reports. The Goldman Sachs Group raised their target price on RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a research report on Tuesday. Morgan Stanley reiterated an "overweight" rating and issued a $415.00 price target (up from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Finally, Truist Financial lifted their price target on RBC Bearings from $405.00 to $431.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, RBC Bearings has an average rating of "Moderate Buy" and an average price target of $398.40.

RBC Bearings Company Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.